The Female Banker Behind the Iconic ‘M&A Associate’ Account

We get to know the female banker behind the iconic meme account ‘M&A Associate’, her work wardrobe staples and her journey navigating a male dominated sector…
What was the inspiration behind your ‘M&A Associate’ instagram account?
I was always an internet kid, since I can remember myself. I felt always comfortable with the strangers/online-friends, so when I quit my job in Frankfurt at the end of 2019, and I knew I would become an “M&A Associate” I thought it would be funny to create a page called “Incoming M&A Associate” as a joke reflecting all the LinkedIn posts of “incoming summer analysts” …or “incoming intern”. Very soon after I actually started the job, a bigger account (shoutout to @mba_ish) told me to “drop the incoming, be just M&A Associate”, so I did, and here we are today.
What does being a woman in finance mean to you?
I wish it didn’t matter, but unfortunately it still does. For me being the only woman in my team means that I have to work a little extra to stay true to myself, to not to lose my feminine side, as stupid as it sounds. It is true what they say, you become the people you work with, and this sometimes means mirroring the behaviors you are exposed to. I am not saying that it is bad to become more like the men around you, especially if they have great characters, but I do believe women have to not lose themselves in the process, and stay true to who they are.
We have a unique point of view on things, we should exercise it and not lose this power of being a beautiful gentle creature in this industry that was so long dominated by men.
Tell us about your career progression, and how that led you to where you are today.
I think it’s worth to give a bit more background & context to who I am. I was born in Republic of Moldova (Eastern Europe) in a small village in the south-east. When I was 15, I moved to Italy with my family, to continue my studies there, so I finished my high school in Padua (North of Italy) and later studied for my Bachelor in Venice (Ca’ Foscari University). During my studies, I also managed to do a semester abroad in a small university in Bavaria for 6 months, very close to Munich, that’s where I started learning German.
After bachelor, I started directly full-time at KPMG in audit in Italy (at this point I am 21 years old, very confused about what I want to do in the future). After a year and a half, I decided I need a little change, so I moved to a different team internally “Deal advisory”, which was more or less Financial Due Diligence. This was the first time I was exposed to the wonderful world of Mergers and Acquisitions. One year later, I got a call from a recruiter telling me that EY in Frankfurt are looking for people, so I jumped to the opportunity to move to Germany, as my then boyfriend was living there. Fast forward two more years, a break-up, and a need for a change, I decide to move to Munich and accept a job in an M&A Boutique as an Associate. In the meantime I am Senior Associate, but the account will always be just “M&A Associate”.
Let’s talk fashion, you have the absolute best office wardrobe EVER! Who are your style icons and what are some of your favourite workwear brands?
Thank you for your kind words! Probably my original influencer was my mom. She is a violin teacher and she was always dressed so well to go to work, with beautiful skirt suits, I remember always trying on her dresses as a kid. I also grew up with an older sister, who also has the same style as me, we always had one common wardrobe which was amazing. I believe this environment created the values that I have to this day: your wardrobe must be unique, timeless, and every piece has to be flattering and of good quality.
On Instagram I don’t follow many influencers, but I like @emitaz, or Emelie Lindmark for her simple and versatile looks. I too believe that you don’t need much, but you do need the right pieces that can be combined in many ways with other items in your wardrobe. For workwear I love Van Laack and Polo Ralph Lauren for their shirts, Massimo Dutti for their suits and coats, Sandro and Maje for their cute dresses and skirts. “Closed” makes the best pants and coats and Le Capsole is wonderful for basics like classic black mini-skirt, or blouses, with wonderful quality-price ratio.
Despite being into fashion and posting outfits pics, we never see your face. What was your decision behind keeping your identity private?
I posted my name a couple of times in my stories, so generally, if someone wants to connect, and doesn’t seem like a creep, I am happy to network. Furthermore, I am not anonymous. I believe in taking full responsibility for your online presence, my employer is aware of my page, and I often show my MDs my memes. But back to the topic of my face, I find it comforting to hide behind the phone, I don’t need someone to comment that I look tired (which I do 90% of the time), or that I need more make-up, so I guess it’s a shield I use to protect my inner peace.
Your memes encompass all areas of finance and put a dark humour spin on them. Are the scenarios ones you come across in your day to day?
As my bio says, it is my diary, in memes. Most of the memes are inspired by what happens in my day-to-day. Some are just trends that are easy to jump on, some are inspired by current news. Overall, I believe I always had a sense of humor about everything that happened in my life, good or bad, and I find it very liberating to put it in a meme and share it with others. Seeing how many people identify with the same inner thoughts, it’s cathartic. Another big inspiration for me is showing a different point of view on things, a woman’s point of view. When I started this account, there were very few accounts that covered how women feel in finance, and I wanted to cover that niche market.
What has been your most liked post, and why do you think it did so well?
Surprising for me as well, the meme that was super popular (and went a little viral on Twitter) was the one with my selfie in it, with the clown emoji on top of my face saying “Looking at myself in the mirror and realizing I could have been a (happy) mother of 4 children by now but something happened to me as a child and now I have this need to be independent and ambitious”. I think it resonated with a lot of women who feel like they want children but are not in a relationship currently, or they are pursuing a career first (like me) and feel like they are missing out. I strongly believe that as women, we feel the need to have children with higher intensity compared to men, so we feel the FOMO also stronger. At the same time, I absolutely refuse to settle now and still believe I will find my soulmate soon and can have all the children in the world (probably just 2 though, who has time for 4?!)
Do you think the industry is welcoming to women and other genders (not men)?
I can only speak about women, as this is my direct experience, I think that the industry is welcoming enough. At least the opportunities are there if you want them. Some are “quota” driven, yes, but it’s not necessarily a bad thing. Companies understand that they need more diverse point of views in the room, and the advantage it brings, so they are pushing to change the constellation in order not to run in the same biases over and over again. I would love to see the change happen faster, but I understand that these kinds of changes take time and patience is the Queen.
What advice would you give to anyone wanting to get into finance?
Just do it. Trying does not hurt. But also, go with your gut. If you feel that you feel uncomfortable in a team/company, don’t stay there just “for the CV”, make the change sooner rather than later. As cliché as it sounds, but try to be happy at your job. Many times, the days in the office are so fun, it doesn’t even feel like work. I pursue that feeling very often and will always prioritize people over company name when choosing a job. Because in the end, we become the people we work with, we must be careful who we surround ourselves with.
Do you see yourself being in finance all your life or do you think you could see yourself in a different sector?
I am not yet sure. I know that at this point in my life this is the right place for me to be, I am learning a lot still. I trust my future me will know exactly what to do in 5 years, be it finance, or be it something else. I see myself continuing being happy and at peace with myself, so if finance will not offer that for me anymore, I will have to “pls fix it”, pun intended.
Finally, I know you adore your Oura ring. Tell us how it’s impacted your health?
I love my Oura ring so much, it’s like a little parent who keeps you in check. I think as adults we get carried away in going out..and eating late, alcohol. The ring gently serves as a reminder of what are the consequences of those actions. I like that it lets me know after a long night at work that “I should take it easy” or that my resting heart rate has not dropped that day, it serves as a reminder to slow down your breathing and be mindful about the body. It’s a really great tool if you care about living a healthier life.